Intech Investment Management LLC Purchases Shares of 10,698 UFP Industries, Inc. (NASDAQ:UFPI)

Intech Investment Management LLC acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,698 shares of the construction company’s stock, valued at approximately $1,404,000.

A number of other institutional investors also recently made changes to their positions in UFPI. BOKF NA lifted its holdings in UFP Industries by 108.0% during the 1st quarter. BOKF NA now owns 3,224 shares of the construction company’s stock worth $387,000 after purchasing an additional 1,674 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of UFP Industries by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after buying an additional 5,784 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of UFP Industries by 9.6% during the first quarter. Tidal Investments LLC now owns 17,499 shares of the construction company’s stock worth $2,153,000 after buying an additional 1,534 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after acquiring an additional 234 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of UFP Industries by 299.5% in the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after acquiring an additional 4,597 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on UFPI. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Benchmark lifted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets increased their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. Finally, StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

UFP Industries Stock Performance

NASDAQ UFPI opened at $137.53 on Wednesday. The firm’s 50 day simple moving average is $131.16 and its 200 day simple moving average is $122.63. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 18.92 and a beta of 1.39. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 1 year low of $107.49 and a 1 year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business posted $2.10 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, research analysts expect that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.96%. UFP Industries’s dividend payout ratio (DPR) is currently 18.16%.

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This represents a 4.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.58% of the stock is currently owned by corporate insiders.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.